FCG Investment Co Purchases New Shares in Northrop Grumman Co. (NYSE:NOC)

FCG Investment Co acquired a new stake in Northrop Grumman Co. (NYSE:NOC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,049 shares of the aerospace company’s stock, valued at approximately $1,610,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Optimum Investment Advisors raised its holdings in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares during the period. Bank & Trust Co purchased a new position in shares of Northrop Grumman during the 2nd quarter worth $28,000. Meeder Asset Management Inc. raised its holdings in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the period. Larson Financial Group LLC raised its holdings in shares of Northrop Grumman by 281.5% during the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 76 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Northrop Grumman during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

NOC has been the topic of several analyst reports. Alembic Global Advisors lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. Susquehanna boosted their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $547.44.

Northrop Grumman Trading Down 0.2 %

NYSE NOC opened at $518.50 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market capitalization of $76.73 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34. The firm has a 50 day moving average of $523.54 and a two-hundred day moving average of $481.38.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the business posted $6.18 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Insider Activity

In other news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 1,490 shares of company stock worth $747,372. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.